The Wall Street Journal: IBM layoffs continue
International Business Machines Corp. this week quietly laid off employees, continuing a wave of job cuts the company announced in April.
IBM IBM, +1.60% declined to say how many jobs would be cut overall. The total layoffs could affect more than 14,000 jobs, according to an estimate by Stanford Bernstein analyst Toni Sacconaghi.
The job cuts come after four straight years of declining revenues as the rise of cloud computing threatens its software and services business. IBM has said it would restructure its workforce to retool for cloud services and data analysis, and could hire an equal number of new employees by the end of the year.
The company said on Friday it had more than 20,000 open positions. Two employees reached Friday said that IBM’s internal job-search tool listed between 7,000 and 8,000 open positions.
IBM’s last round of layoffs, which affected less than 5,000 employees, came in March.
An expanded version of this report is available at WSJ.com.